NEW YORK, Oct. 23, 2026 (GLOBE NEWSWIRE) —
Reid Collins & Tsai LLP (www.reidcollins.com, “Reid Collins”), a nationally recognized law firm handling high-stakes business litigation, informs beneficial holders (the “Preferred ADS Holders”) of American Depositary Shares (“ADS”) of the 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock and the 8.625% Series H Cumulative Redeemable Perpetual Preferred Stock (the “Preferred Stock”) issued by Navios Maritime Holdings, Inc. (“Navios”) of deficiencies perceived in the offering document issued by Navios on October 9, 2026, regarding its $12.00 Offer to Purchase.
Reid Collins represents the plaintiff in a litigation pending in New York Supreme Court (Commercial Division) captioned Katz v. Navios Maritime Holdings, Inc., Index No. 157627/2025 (the “Katz Litigation”). Plaintiff Katz has filed a motion with the Court seeking certification of a class of current Preferred ADS Holders.
The Katz Litigation claims that Section 6(f) of the Preferred Stock Certificates of Designation, each of which is identical, was violated when Angeliki Frangou and the buyer group that she controlled acquired common stock in Navios’s December 2023 merger without first paying then-accrued dividends. Section 6(f) reads:
None of the Corporation or any Affiliate of the Corporation shall be permitted to . . . acquire any Common Stock, . . . unless full cumulative dividends on the Series [G or H] Preferred Stock . . . for all prior and then-ending Series [G or H] Dividend Periods shall have been paid or declared and set apart for payment.
Plaintiff Katz seeks to recover for himself and each class member the amount of unpaid and accrued dividends on the Preferred Stock ADSs as of December 13, 2023, plus interest. As of October 13, 2026, the total amount of unpaid dividends Plaintiff Katz seeks to recover for the Series G Preferred ADS Holders is $17.34 per ADS plus prejudgment interest of $4.42 per ADS (total: $21.76 per Series G ADS), and the total amount of unpaid dividends he seeks to recover for the Series H Preferred ADS Holders is $17.10 per ADS plus prejudgment interest of $4.36 per ADS (total: $21.46 per Series H ADS).
Importantly, if you accept Navios’s tender offer, you release your ability to recover in the Katz Litigation and relinquish your Preferred Stock ADSs. On the other hand, if you do not tender, you retain the possibility of recovering in the Katz Litigation and your Preferred Stock ADSs with all of the rights afforded to you thereunder.
Moreover, the $12.00 tender consideration is less than the amount of accrued and unpaid dividends, plus interest, that Plaintiff Katz seeks to recover for each Preferred Stock ADS.
You do not need to pay out-of-pocket to participate in the Katz Litigation. Rather, to compensate it for its work on behalf of the class, Reid Collins will seek an award of attorneys’ fees up to 33% of any recovery obtained for the class members. The Court will determine the amount of fees class counsel should receive.
There is no guarantee that the Katz Litigation will result in any recovery to the class.
The Court has ordered Navios to extend the Expiration Date of its Offer to Purchase until 11:59 PM on November 2, 2026, to give Preferred ADS Holders an opportunity to consider the Offer to Purchase with the additional information provided herein. Any Preferred ADS Holder who has already accepted Navios’s Offer to Purchase and wishes to withdraw may do so. Instructions for how to withdraw your tender are included in the Offer to Purchase. Your broker may require that you withdraw your tender earlier than November 2.
More information regarding the Katz Litigation and deficiencies in the Offer to Purchase is available at https://reidcollins.com/media-center/navios/.
You may also obtain information about the Katz Litigation and your rights therein by consulting with Reid Collins, free of charge. Inquiries should be directed to:
Robert LaCroix, Esq.
Reid Collins & Tsai LLP
420 Lexington Avenue, Suite 2515
New York, New York 10170
T: (212) 344-5200
rlacroix@reidcollins.com
Attorney Advertising. This notice is for informational purposes only and does not constitute legal advice. Contacting Reid Collins does not create an attorney-client relationship. This notice is not an offer to purchase, a solicitation of an offer to sell, or a recommendation to tender or not tender any securities, including the Preferred Stock ADSs. Statements in this notice regarding the Katz Litigation reflect Plaintiff Katz’s claims and calculations, which Navios disputes.
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